Novartis sees $200 mln/year cost-saves in Hexal, Eon

EmilyChurch

LONDON (MarketWatch) -- Swiss pharmaceuticals maker Novartis
NVS, +0.41%
expects cost-savings of $200 million a year, with half the amount realized in the first 18 months, in its $8.2 billion deal to acquire Germany's generics maker Hexal and its U.S. division, Eon Labs
ELAB, -0.27%
The two will be integrated in its Sandoz unit. "The strong growth outlook for Sandoz, which will create jobs, is expected to partially compensate for necessary reductions in the workforce," Novartis said. The group didn't detail anticipated job cuts.

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